Analysts Anticipate Occidental Petroleum (OXY) Will Announce Earnings of $0.68 Per Share

Wall Street brokerages forecast that Occidental Petroleum (NYSE:OXY) will report $0.68 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Occidental Petroleum’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.77. Occidental Petroleum reported earnings of $0.15 per share in the same quarter last year, which indicates a positive year over year growth rate of 353.3%. The firm is expected to report its next earnings results after the market closes on Tuesday, May 8th.

According to Zacks, analysts expect that Occidental Petroleum will report full-year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.32 to $3.63. For the next financial year, analysts expect that the company will post earnings of $2.90 per share, with EPS estimates ranging from $1.66 to $4.81. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Occidental Petroleum.

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Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the company posted ($0.13) earnings per share.

Several research firms have recently issued reports on OXY. Piper Jaffray upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $86.00 in a research note on Sunday, April 15th. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. JPMorgan Chase reduced their target price on shares of Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, April 9th. Deutsche Bank upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Friday, March 23rd. Finally, Zacks Investment Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $74.00.

OXY traded up $0.48 during trading on Friday, hitting $76.47. 5,027,832 shares of the company’s stock were exchanged, compared to its average volume of 6,033,482. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $78.09. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market cap of $58,143.65, a price-to-earnings ratio of 85.92, a PEG ratio of 4.21 and a beta of 0.65.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Friday, March 9th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 8th. This represents a $3.08 annualized dividend and a yield of 4.03%. Occidental Petroleum’s payout ratio is currently 346.07%.

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. OxFORD Asset Management LLP bought a new position in Occidental Petroleum during the third quarter valued at about $629,000. Vident Investment Advisory LLC bought a new position in Occidental Petroleum during the third quarter valued at about $786,000. Janus Henderson Group PLC grew its position in Occidental Petroleum by 82.6% during the third quarter. Janus Henderson Group PLC now owns 886,988 shares of the oil and gas producer’s stock valued at $56,951,000 after buying an additional 401,102 shares during the period. Cetera Advisor Networks LLC grew its position in Occidental Petroleum by 10.4% during the third quarter. Cetera Advisor Networks LLC now owns 8,878 shares of the oil and gas producer’s stock valued at $570,000 after buying an additional 835 shares during the period. Finally, Wealthsource Partners LLC bought a new position in Occidental Petroleum during the third quarter valued at about $208,000. Institutional investors own 82.69% of the company’s stock.

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About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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